2.6Value Driver: Talented people

SBM Offshore has taken action to streamline its organization with greater efficiency through significant organizational restructuring. The benefits are an optimization of the Company’s cost base and the creation of a more proactive and productive environment for teams, while maintaining the Company’s core competencies and technological edge.

At the end of 2015, Group companies employed 7,020 staff worldwide compared to 10,215 at the end of 2014. This overall decrease of 31% is explained mainly by contractors for projects and construction employees at joint venture yards. Employees and contractors from SBM Offshore’s wholly-owned companies experienced a decrease of 1,534 in 2015 with a total of 4,897 employees at the end of the year, compared to a total of 6,431 at the end of 2014.

People are a fundamental part of SBM Offshore’s continued success. Despite a significant headcount reduction, the Company managed to retain its core skills and kept unplanned headcount turnover below 5%. SBM Offshore continues to invest in its internal talent base and its future through a set of competency models and values, which support the delivery of higher quality work, thereby ensuring greater customer satisfaction.

Retaining and developing core talent to ensure that SBM Offshore has the necessary skills to deliver its business targets today and in the future has been a key focus in 2015. The Company continues to build robust succession pipelines to reduce reliance on external hires for most key position vacancies.

A Leadership Assessment tool will be used in 2016 to support the management in identifying the Company’s future leadership teams.